The global machine vision system market size is expected to reach $18.7 billion by 2022 from $10.6 billion in 2015, growing at a CAGR of 8.7% from 2016 to 2022. Machine vision system enables automatic analysis and inspection of the production line, based on imaging, used in process control, verification, measurements, robot guidance, and other functions. Machine vision includes a complete solution starting from acquiring an image to interacting to management information system. Machine vision system replace incapability of human inspector to maintain a high level of error recognition for a long period of time.

WORKING OF A MACHINE VISION SYSTEM

Major disadvantages of human inspection, such as long-term inconsistency, need of rest period, slower speed than machine, and variation among different inspectors, drive the machine vision system market growth. Machine vision facilitates cost-effective, speedy, accurate and high functionality of an inspection procedure. It is incorporated for improving the quality and productivity in the manufacturing process.

The machine vision system industry is expected to grow during the forecast period due to continued evolution of CMOS image sensors and rise in demand for automation in industrial applications. However, intensive training and education, an essential requirement to enable entry of machine vision in newer markets, restrain the machine vision system market growth. Moreover, demand for miniaturization of machine vision system provides lucrative opportunities for the players operating in machine vision system industry.

FACTORS IMPACTING MACHINE VISION SYSTEM MARKET

The demand for machine vision system is expected to rise due to heavy investments in R&D of smart camera and software by key players, such as Cognex Corporation, Teledyne Technologies, Inc., Keyence Corporation, and others.

SEGMENT REVIEW

Based on component, the market comprises smart camera, embedded system, frame grabber, lighting, and lenses. Smart camera is the dominant segment, and consumes high machine vision system market share in 2015, owing to its applications in 3D imaging, which are essential components of the market.

By application, the market is divided into positioning, identification, verification, measurement, and flaw detection. Market by type comprises 1D, 2D, and 3D measurements, of which 3D measurement is estimated to grow at the highest CAGR, owing to trend of 3D imaging in the production line.

Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2015, Asia-pacific and Europe, together accounted for about 76.8% of the total machine vision system market revenue, owing to significant growth of electronics and automotive industries in the regions.

Comprehensive analysis of the current trends and future estimations in the global machine vision system market is provided

The report offers a competitive scenario of the market and elucidates the growth trends, drivers, scope, opportunities, and challenges

It also includes a comprehensive analysis of the key segments to provide insights on the market dynamics

Porters Five Forces analysis highlights the potential of buyers and suppliers to devise effective growth strategies and facilitate better decision-making

Market player positioning provides positions of key companies operating in the market

MACHINE VISION SYSTEM MARKET KEY SEGMENTATION

The global machine vision system market is segmented based on component, type, application, industry vertical, and geography.

BY COMPONENT

Smart Camera

Embedded System

Frame Grabber

Lighting

Lenses

BY TYPE

1D Measurement

2D Measurement

3D Measurement

BY APPLICATION

Positioning

Identification

Verification

Measurement

Flaw Detection

BY INDUSTRY VERTICAL

Industrial

Healthcare

Electronics

Automotive

Others

BY GEOGRAPHY

North America

U.S.

Canada

Mexico

Europe

UK

Germany

France

Rest of Europe

Asia-Pacific

China

India

Japan

Taiwan

South Korea

Rest of Asia-Pacific

LAMEA

Latin America

Middle East

Africa

MARKET PLAYERS IN VALUE CHAIN

Cognex Corporation

Teledyne Technologies, Inc.

Keyence Corporation

National Instruments Corporation

Texas Instruments, Inc.

Basler AG

Baumer Optronic GmbH

Sick AG

Omron Corporation

Allied Vision Technologies GmbH

Intel Corporation,

Jai A/S,

Canon Inc.

Datalogic S.p.A.

Microscan Systems, Inc.

Adept Technology

IDS Imaging Development Systems GmbH

Machine Vision Technology

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The machine vision system market witnesses a high growth due to rise in demand for higher quality, less machine downtime and reduced setup time, increased productivity, and production flexibility in applications such as inspection, measurement, gauging, and assembly verification. Major disadvantages of human inspection, such as long-term inconsistency, need of rest period, slower speed than machine, and variation among different inspectors, boost the market growth.

Continued evolution of CMOS image sensors and rise in demand for automation in industrial applications are the factors that supplement the market growth. Machine vision system maintains a high level of error recognition for a long period of time, thus, enabling high-speed production lines, clean room environments, microscopic inspection, closed-loop process control, and precise non-contact measurement.

Smart camera component of machine vision system is most widely used and has maximum penetration in the market. It accounted for the largest machine vision system market share in 2015, owing to its high incorporation for image processing in machine vision systems. Machine vision system finds its application in industrial, healthcare, electronics, and automotive industries. Industrial segment consumes the highest share of machine vision system market in 2015, owing to its extensive utilization in production line monitoring and automated guidance system. Healthcare and automotive are expected to foster highest growth in the market owing to increase in demand of automated mass production, strict quality requirements, and high degree of cost sensitivity.

Asia-Pacific and Europe are the most potential regions for manufacturers to increase their revenue and market share in the global machine vision system industry, owing to the ongoing research activities for developing efficient machine vision system components, such as smart camera, software, embedded system, frame grabber, and many more.